STATE OF SOUTH CAROLINA
|STATE OF SOUTH CAROLINA |Business Area: | |
|COLLEGE/UNIVERSITY SPREADSHEETS AND FORMS |Institution Name: |
| |________________________________________ |
| | |
|June 30, | | |
|NO. |REVIEW STEP |COMPLETED BY |DATE COMPLETED |
| 1. |Statement of Net Position spreadsheet. For each column, be sure that the following are equal | | |
| |(check figure on row 205 should be zero): | | |
| |Total Assets plus Deferred Outflows minus Liabilities minus Deferred Inflows. | | |
| |Net Position. | | |
| 2. |Statement of Net Position spreadsheet. In the Total column, be sure that the following two | | |
| |rows both have a zero balance: | | |
| |Due from others within your reporting entity (to be eliminated) | | |
| |Due to others within your reporting entity (to be eliminated) | | |
| |Also, the Eliminations column must net to zero. | | |
|3. |Statement of Net Position spreadsheet. For each column, be sure that the following are equal | | |
| |(check figure on row 201 should be zero): | | |
| |Net invested in capital assets (row 179). | | |
| |Total invested in capital assets per reconciliation (row 200). | | |
| 4. |Statement of Net Position spreadsheet. For each column, be sure that the check figure on row | | |
| |206 is zero. This verifies that ending net position on the Statement of Activities | | |
| |spreadsheet agrees to ending net position on the Statement of Net Position spreadsheet. | | |
| 5. |Statement of Net Position spreadsheet. Be sure to read notes from row 209 to the end for | | |
| |guidance if reporting any entities other than the primary entity. | | |
| 6. |Statement of Activities spreadsheet. The Eliminations column must net to zero. | | |
| 7. |Statement of Activities spreadsheet. Be sure that the amount reported as Prior Year Ending | | |
| |Net Position (row 64) agrees to what you reported to the CG’s Office as the ending balance in | | |
| |the prior year. Any differences should be reported as Prior Period Adjustments with an | | |
| |explanation if not explained in the audited financial statements. | | |
| 8. |Statement of Activities spreadsheet. Be sure to read notes from row 72 to the end for | | |
| |guidance if reporting any entities other than the primary entity. | | |
| 9. |Be sure that the information for each component unit required to be reported in the State’s | | |
| |CAFR is presented in the Component Units columns on the two financial statement spreadsheets. | | |
|10. |Be sure that transactions between the primary entity and component units reported in the | | |
| |State’s CAFR are eliminated. Transactions between component units reported in the State’s | | |
| |CAFR should also be eliminated. Transactions with component units reported in the stand-alone| | |
| |financial statements but not in the State’s CAFR should not be eliminated. | | |
|11. |Be sure that each amount entered on both of the financial statement spreadsheets can be traced| | |
| |back to the audited financial statements or Notes to the Financial Statements. | | |
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